Gift Nifty Points to Higher Open After Rare Diwali Trading Dip

Market Opening

Indian stock indices look set for a higher opening on Monday, 9 November 2026, as GIFT Nifty signals a gap-up start by trading around the 25,018 level, up nearly 38 points or 0.15 percent from the previous close. This points to a recovery following a rare dip during the Sunday Muhurat Trading session.

Muhurat Trading Dip

During Sunday's special one-hour Diwali trading session, both Sensex and Nifty gave up their early gains to end lower, marking the first time in nine years that benchmark indices closed in the red for this holiday event. The Sensex dropped nearly 29 points to close at 80,999, while the Nifty 50 fell 44 points to finish at 24,986. This also halted a six-session winning streak, though the prior week saw the Sensex jump 6,569 points and the Nifty climb nearly 9 percent. Market expert Ponmudi noted that Media and Pharma sectors outperformed with gains over 1 percent.

Global Cues

Asian markets showed mixed movement on Monday, with Japan's Nikkei 225 rising 2.05 percent to 58,614.33, Taiwan's Taiex surging over 3 percent, and South Korea's Kospi recovering to trade 0.22 percent higher above the 5,000 mark. In the US, futures were mixed on Sunday evening as investors awaited inflation data and AI company earnings. Dow Jones futures rose 150 points after a prior two-day plunge following US midterm election results where Democrats swept Congress. Meanwhile, Nasdaq futures fell up to 150 points amid reports that Nvidia co-founder and CEO Jensen Huang is under investigation over alleged links with a Chinese spy.

Context

Special Muhurat Trading sessions are held annually on Diwali according to Hindu calendar traditions, typically bringing positive sentiment to the stock market. Historical data shows that indices have finished lower in only two of the past ten such sessions. Broader market movements often react swiftly to global economic data releases and political shifts in major economies like the United States.